Page 38 - Delcampe Collections classiques EN-006

Coins

The story behind the creation of the Isle of Pines banknote, the
‘ONE POUND ISLE OF PINES’

By Eric Vassilev

Among New Caledonian numismatists, the Holy Grail is the One Pound from the Isle of
Pines. This uncirculated banknote made world numismatic history. Most collectors only
know about it from books. Indeed, the Kolsky (named after the numismatist who was
(chairman of FFAN) refers to it on page 187. The photo and the history of this famous
banknote can be found there.

The history of the One Pound
In 1843, after a career as a naval captain in England, Robert Towns
moved to Australia and became a merchant in the sandalwood and
whaling trades. He also imported sugar and tea, and exported wool,
whale oil and cotton, which he pioneered in Queensland.
He had commercial relations in Mauritius, India, the Philippines,
New Zealand, China, the New Hebrides (Vanuatu), Chile and New
Caledonia. The owner of numerous ships, this influential man ope-
ned trading posts everywhere, notably in New Caledonia, on the Isle
of Pines.
In 1848, Louis Napoléon Bonaparte became the first President of
the French Republic. In this year, Robert Towns, a powerful bu-
sinessman, came up with the idea of creating a “One Pound” note
for his company on the Isle of Pines.
In fact, at that time New Caledonia was a virgin land and did not as

38 Delcampe Magazine